Artwork for podcast The Wealthy Consultant Talks Podcast
#86 - "Surviving The Squeeze: Powerful Moves to Reclaim Your Business from Financial Trouble"
Episode 86 • 17th September 2024 • The Wealthy Consultant Talks Podcast • The Wealthy Consultant
00:00:00 00:17:38

Share Episode

Shownotes

In this episode of The Wealthy Consultant Podcast, Mike Walker discusses how business owners can tackle financial difficulties head-on. He emphasizes the importance of removing problematic individuals and unnecessary expenses, and shares insights on how to streamline operations using the ACE framework (Attitude, Competency, Experience).

Mike also provides key tactics to improve financial health, including regular financial reviews and engaging team members in generating revenue-enhancing ideas. He concludes with the importance of having a CEO dashboard for monitoring key performance indicators (KPIs) to proactively address potential issues. Tune in for actionable strategies to safeguard and grow your business.

Enjoy the episode and check the links below for more info & Resources

Get an inside look at how to get involved with The Wealthy Consultant

https://wealthyconsultant.com/

Our Monthly Printed Memos - Free Trial

https://consultingmemo.com/optin-568134011666363883437

See our Portfolio of Brands

https://welchequities.com/

OVERVIEW:

  • (00:00) Introduction and Podcast Overview
  • (00:49) Facing Financial Difficulties in Business
  • (01:55) Strategies to Overcome Financial Challenges
  • (04:22) Cutting Unnecessary Expenses
  • (06:56) Evaluating and Optimizing Your Team
  • (13:15) Creating a Sustainable Financial Framework
  • (17:01) Conclusion and Final Thoughts

Links

Chapters

Video

More from YouTube

More Episodes
86. #86 - "Surviving The Squeeze: Powerful Moves to Reclaim Your Business from Financial Trouble"
00:17:38
85. #85 - "4 Keys to a Healthy Entrepreneurial Marriage"
00:26:58
84. #84 - "Lessons Not Losses" with Special Guest Jennifer Bleam
00:20:59
83. #83 - "Client Retention and The Power of Online Communities"
00:24:06
82. #82 - "Why "Success" Doesn't Always Feel Exciting..."
00:24:40
81. #81 - "The Future of Sales & Why Traditional Sales is Dead"
00:18:44
80. #80 - "Financial Planning & Wealth Strategies for Business Owners"
00:34:14
79. #79 - "How To Avoid Entrepreneurial Burnout with Taylor Welch & Mike Walker"
00:33:39
78. #78 - "Work/Life Balance & The Art of Abundance with Special Guest Stephanie Wigner"
00:23:52
77. #77 - "Are you Productive or Just Busy? Here's How To Know"
00:11:42
76. #76 - "You Can't Unsee This: The Counterintuitive Strategy of the Ultra-Successful"
00:13:05
75. #75 - "Reality vs. Expectations: Why Most Entrepreneurs Aren't Happy"
00:11:49
74. #74 - "Turning Refunds into Opportunities: Navigating Challenging Customer Interactions with Mike Walker"
00:19:34
73. #73 - "Vision, Faith & Team: An Executive's Journey with Mike and Gabrielle Goude"
00:29:27
72. #72 - "New Levels, New Problems... Are You Ready?"
00:10:59
71. #71 - "Building Your Empire While Raising a Family & The Fallacy of "Balance""
00:15:23
70. #70 - "Turning Pages Into Profit: Why Books Build Business with Kristen McCall"
00:19:21
69. #69 - "Showing Up When You Feel Like Checking Out: 3 Secrets of Entrepreneurial Resilience
00:15:41
68. #68 - "Hiring & Managing Rockstar Virtual Assistants" with Mike Walker & Kathy Jones
00:22:51
67. #67 - "The Power of Consistency & How To CRUSH The Competition"
00:13:28
66. #66 - "The Paradox of Happy Clients: When Satisfaction Isn't Success with Mike Walker"
00:14:59
65. #65 - "High Stakes Decision Making & Why Context Can Create Confusion with Taylor Welch & Mike Walker"
00:27:37
64. #64 - "Ditching The 9-5: An Entrepreneurial Journey with Mike Walker & Special Guest Varti Deuchoghlian"
00:21:51
63. #63 - "David & Goliath: Fortifying Your Business Against Regulation and The FTC with Taylor Welch & Mike Walker"
00:17:25
62. #62 - "Creating A Business Your Customers Will Love" with Mike Walker
00:20:46
61. #61 - "Escaping The Bottleneck: Learning How to Lead as a Founder & Visionary" (Interview with JonCameron Johnson)
00:26:40
60. #60 - "Battling the Economy as an Expert Business" with Taylor & Mike
00:28:37
59. #59 - "Maximizing Productivity and Creating Space" with Michael Yeung
00:16:55
58. #58 - “The Power of Dynamic Events: Creating Impact & Memories with Clients” with Guest Lauren Medley
00:33:27
57. #57 - Why Success Can Kill Your Business Faster Than Anything Else w/ Mike Walker
00:15:35
56. #56 - How to delegate effectively as a business owner (RECAST)
00:22:12
55. #55 - Mind & Body: How Your Health Fuels Your Business with Special Guest Cole Taylor
00:57:16
53. #53 - The Tension of Getting Started: Engineering Your Offer & Services in a Crowded Marketplace
00:23:29
52. #52 - Engineering Peak Sales Performance With Payton Welch
00:27:19
51. #51 - Permission to Succeed & The Battle of The Mind with Taylor Welch & Mike Walker
00:19:18
50. #50 - From Setbacks to Summits: 3 Truths for Navigating the Peaks
00:12:43
49. #49 - Aligning Values & Vision Along the Client Journey
00:13:04
48. #48 - Permission To Be Wealthy w/Taylor Welch & Mike Walker
00:18:50
47. #47 - Retention & Churn: Unlocking the Secrets to Business Immortality
00:21:41
46. #46 - Audience Control: How To Engage & Retain Attention w/ Jake Brian & Taylor Welch
00:27:57
45. #45 - The Power of Disruptive Content w/ Mike Walker & Marley Jaxx
00:30:06
44. #44 - Beyond the 10,000 Hour Rule: Decoding the Formula for Becoming an Expert… FAST
00:19:44
43. #43 - Unlocking Excellence with Neurodiversity and Team Performance
00:16:06
42. #42 - Risk & Safety
00:32:06
41. #41 - Pressure Cooker: Navigating High-Stress Decision-Making
00:17:03
40. #40 - A Day In The Life: Cracking the Code of Emotional Intelligence as an Entrepreneur
00:20:47
39. #39 - How to Not Die As an Entrepreneur
00:28:07
38. #38 - The Risk of Opportunity
00:06:06
37. #37 - You Get What You Pay For
00:05:59
36. #36 - Your Choices Matter
00:07:48
35. #35 - How to Use People To Get Sh*t Done
00:22:39
34. #34 - Creating A Driven Sales Team w/ Walter Rahim
00:07:14
33. #33 - Realities of Management: Hiring Talented People and Letting Them Thrive
00:12:22
32. #32 - Aligning Purpose and Profit as an Entrepreneur
00:29:00
31. #31 - Elevating the Client Experience
00:21:43
30. #30 - Navigating Economic Uncertainty
00:17:31
29. #29 - The Power of Mirror Neurons and Mimetic Desire
00:19:35
28. #28 - The Four Stages of Evolution: Making the Shift from Entrepreneur to CEO
00:20:10
27. #27 - The Cost of Scale: Investing in Future Growth
00:18:47
26. #26 - Finding Clarity and Breaking Free from the Busy-ness Trap
00:19:32
25. #25 - Money, Man & God
00:34:57
24. #24 - Innovations of Leadership
00:25:30
23. #23 - The Distortion Field of Successful Leaders
00:55:24
22. #22 - Leading With Purpose: How Your "Why" Drives Success
00:15:58
21. #21 - Why Making No Decision is the Recipe for Failure
00:25:40
20. #20 - The Power of Networks: How to Build and Leverage Connections for Business Success
00:22:34
19. #19 - Wealth Strategies w/ Special Guest Bradd Gibb
00:26:22
18. #18 - Building Brand That Lasts w/ Bijal Patel
00:25:17
17. #17 - The Playbook of A Grand Master
00:10:52
16. #16 - Dealing with Overwhelm
00:26:35
15. #15 - The Art of Sales Strategy with Taylor Welch
00:10:05
14. #14 - How To BEND Reality
00:24:52
13. #13 - Being Poor Sucks
00:08:40
12. #12 - Building a Strong Culture Within Your Organization
00:15:09
11. #11 - Mastering Digital Marketing: Expert Tips & Strategies for Consultants w/ Dane Mohrmann
00:33:09
10. #10 - How to delegate effectively as a business owner
00:22:12
9. #9 - How online relationships are changing w/Todd Giannattasio
00:25:28
8. #8 - Top 5 Mistakes Consultants Make When Growing Their Business
00:21:38
7. #7 - How to Differentiate Your Business from Competitors
00:09:39
6. #6 - Why Your Clients Are Leaving
00:13:29
5. #5 - MDC Success Story w/ Guest JonCameron Johnson
00:24:28
4. #4 - Are Consulting Businesses Scalable?
00:21:34
3. #3 - Balancing Business & Family
00:14:21
2. #2 - 6 Ways To Sell in a Recession
00:22:12
1. #1 - Don't Get Rich Until You Hear This
00:33:19